Loan & DebtMay 6, 2026, 06:13 AM
Cartesian Growth II Issues $250,000 Promissory Note to Sponsor
AI Summary
Cartesian Growth Corporation II issued an unsecured promissory note for $250,000 to its sponsor, CGC II Sponsor LLC, on May 5, 2026. The note is non-interest bearing and matures upon the earlier of the company's initial business combination or its winding up. The sponsor has the option to convert the principal into Working Capital Warrants at $1.00 per warrant if a business combination is completed, with terms identical to the IPO private placement warrants.
Key Highlights
- Cartesian Growth Corporation II issued an unsecured promissory note for $250,000.
- The promissory note was issued to CGC II Sponsor LLC.
- The note does not bear interest.
- The principal balance is payable on the earlier of the initial business combination or winding up.
- Sponsor has the option to convert principal into Working Capital Warrants at $1.00 per warrant.
- Working Capital Warrants terms are identical to the IPO private placement warrants.
- The note was issued pursuant to the exemption from registration under Section 4(a)(2).
Price Impact
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